One of my most used credit cards is the American Express Delta Platinum card. I spend at least $25,000 per year on the card to unlock the Medallion status spend requirement exemption, which means I don’t have to spend $9,000/year with Delta to earn Platinum status. The card also comes with a companion voucher every year good for a domestic round trip, which can unlock some pretty great value.
However, the card has a relatively steep $195 annual fee. My fee just posted last week for my third year of card membership, and I was debating what to do. I had a few options I was weighing up:
- Keep the card and just eat the cost of the fee. Between the companion voucher and the Medallion spend waiver, I feel its a decent value.
- Cancel the card and apply for the Delta Reserve card, which currently has a 75,000 sign up offer (today is the last day). The reserve card also comes with a first class companion voucher and Delta SkyClub lounge access, although the $450 annual fee is steep.
However, I saw a third option. Amex is known for sometimes offering pretty generous offers to keep customers who are thinking of cancelling. As my mom taught me, ‘you don’t get if you don’t ask’, so I figured I’d call and see.
I called the Amex retention line (800-452-3945) and explained I was thinking of cancelling the card. The agent reminded me the value of the card, and pointed out I had already used the companion certificate (very true). However, after asking if there was anything they could do, he presented me with two offers:
- Spend $2,500 on the card in the next three months and receive a $100 statement credit.
- Spend $2,500 on the card in the next three months and receive 12,500 miles.
Both seemed like pretty good offers, but the miles offer edged out the statement credit offer as I value SkyMiles at at least one penny per mile.
I decided to accept the second offer and keep the card open. I figure I can open the reserve card next year and replace one of my two Hilton cards. Hopefully there will be an increased sign up bonus by then, and the extra MQMs that are often part of such a bonus could come in handy for re qualifying for status. In the meantime, I’m happy with the extra 12,500 miles!